TORONTO — The latest instalment of the Ontario Trucking Association’s quarterly survey of company expectations points to growing, if cautious, optimism amongst Ontario trucking companies.

Seventy-three companies responded to the first quarter edition of OTA’s Business e-Pulse Survey, conducted over three weeks in January.

Overall, 52 percent of the carriers said they were optimistic about the industry’s overall prospects over the next three months. It’s the first time a majority of carriers have felt optimistic since OTA began its quarterly surveys in the 3rd quarter of 2008.

Comparatively, in the first quarter of last year 52 percent of respondents were pessimistic about the upcoming months, while only 17 percent of carriers were feeling optimistic.

However, the current optimism is also accompanied by a healthy dose of uncertainty and the outlook should therefore be subject to caution, says the OTA, as 37 percent of respondents in the recent survey said they were unsure of the industry’s overall prospects for the next three months.

“The survey results give credence to the view that the worst is over for the economy, but things remain fragile. There is still concern for the U.S. economy, in particular southbound shipments, which also reflects upon the outlook for Ontario’s export-based economy as well,” says OTA president, David Bradley.

The proportion of carriers reporting declines in freight volumes over the past three months shrank in each of the major markets – intra-Ontario, interprovincial, southbound U.S., and northbound U.S. – and the proportion of carriers who said that volumes were improving also increased in each of the markets.

The proportion of carriers reporting decreasing freight rates fell from an average of 35 percent in all markets a year ago, to less than 11 percent today. Only 5.5 percent said that rates were still decreasing in the intra-Ontario and interprovincial markets, compared to southbound U.S. rates (19 percent) and northbound U.S. rates (13 percent).

The vast majority indicated that rates were sticking pretty much to current levels, but there were signs of modest prospects for firming rates over the next six months, which is consistent with statements recently emanating out of some shipper groups.